News Release

Fifth Third Bank Announces Changes to Early Access Product; Extends Product Availability Time for Existing Customers

11/03/2014

Cincinnati– Today Fifth Third Bank will begin notifying customers of changes as of Jan. 1, 2015 to its Early Access deposit advance service. Fifth Third will make these changes to minimize disruption and provide an extension of time for product availability for existing Early Access customers while the Bank awaits alignment in the guidance offered by the various regulatory bodies and continues exploring alternate solutions. The product changes include:

• Lower Cost: Fifth Third Bank is reducing the cost of the Early Access transaction fee from 10% of the amount of each advance to 3% of the amount of each advance.
• Longer Maximum Repayment Period: Fifth Third Bank is increasing the repayment deadline for each advance from 35 days to 45 days.
• Reduced Maximum Advance Period: Fifth Third Bank is decreasing the number of months that a customer may advance the maximum credit limit from six months to three months. If the maximum credit limit is reached for three consecutive months, the customer will be ineligible for an advance for 30 days following the third month.

Complete Terms and Conditions are available at 53.com/earlyaccess.

Fifth Third announced in January that it would no longer enroll customers in its Early Access deposit advance service after Jan. 31, 2014 and that it would wind down service for existing customers by year end. The changes announced today will allow customers currently enrolled in Early Access to continue using the service as the industry awaits aligned regulatory guidance on small dollar credit products. Aligned regulatory guidance will help Fifth Third Bank determine whether or not it can offer a permanent alternative product..

Fifth Third continues to proactively engage with key stakeholders to review new options for what the Bank considers a clear and continued need for small-dollar, short term credit solutions. A primary objective is to serve customers within the traditional banking system, rather than having them access less-regulated providers outside the banking system.

Fifth Third Bancorp is a diversified financial services company headquartered in Cincinnati, Ohio. The Company has $134 billion in assets and operates 15 affiliates with 1,308 full-service Banking Centers, including 102 Bank Mart® locations, most open seven days a week, inside select grocery stores and 2,639 ATMs in Ohio, Kentucky, Indiana, Michigan, Illinois, Florida, Tennessee, West Virginia, Pennsylvania, Missouri, Georgia and North Carolina. Fifth Third operates four main businesses: Commercial Banking, Branch Banking, Consumer Lending, and Investment Advisors. Fifth Third also has a 22.8% interest in Vantiv Holding, LLC. Fifth Third is among the largest money managers in the Midwest and, as of September 30, 2014, had $303 billion in assets under care, of which it managed $26 billion for individuals, corporations and not-for-profit organizations. Investor information and press releases can be viewed at www.53.com. Fifth Third’s common stock is traded on the NASDAQ® Global Select Market under the symbol "FITB." Fifth Third Bank was established in 1858. Member FDIC.